Labour’s proposed immigration reforms could significantly impact the UK economy, with potential losses estimated between £520m and £710m. The Migration Advisory Committee (MAC) suggested maintaining the salary threshold for skilled workers at £41,700, warning that raising it to £52,000 would reduce economic contributions. The reforms also include stricter visa requirements and longer wait times for settlement, particularly affecting low-paid workers. The MAC also revealed that one year’s intake of 51,000 foreign-based spouses entering the UK on partner visas are projected to cost the economy £5.6bn over their lifetimes, with each partner expected to incur a net fiscal cost of £109,000.

London’s average house price fell to £547,000 in October, down 2.4% from last year, according to the Office for National Statistics (ONS). Property experts attribute the decline to the uncertainty surrounding the recent Budget. Amy Reynolds, sales head at Antony Roberts, noted that small shifts in expectations can significantly impact market activity. Richard Donnell from Zoopla said higher stamp duty costs and Budget uncertainty contributed to the annual price falls. Despite this, UK house prices overall increased by 1.7% year on year, indicating a stabilising market.

Rachel Reeves has rejected claims from Robert Gordon University that a windfall tax is causing 1,000 job losses a month in the North Sea sector. The report, authored by Paul de Leeuw, blamed the fiscal regime, which includes the windfall tax on profits. Critics, including Stephen Flynn of the SNP, accused the Chancellor of ignoring expert evidence. Meanwhile, Offshore Energies UK’s David Whitehouse stressed the reality of job losses, attributing them to government policy decisions. Reeves denied the link on a visit to Scotland to announce a rescue package for the UK’s last ethylene plant at Grangemouth, owned by Ineos.

Over 300 NHS hospitals will face significant property tax increases next year due to a business rates shake-up, according to Ryan’s analysis. Addenbrooke’s Hospital in Cambridge will see its bill rise by £1.25m to £11.8m. The changes affect hospitals valued over £500,000, imposing an additional tax surcharge. Despite attempts by the House of Lords to exempt hospitals, the Government rejected the proposal. Conservative Party chairman Kevin Hollinrake stated: “This is yet another example of Rachel Reeves’s stealth tax hikes.” A government spokesman claimed the decisions would cap increases for large properties like hospitals.

Figures from the Office for National Statistics show UK inflation fell to an eight-month low of 3.2% last month. This marked a slowdown from October’s 3.6% and was below forecasts of 3.5% from analysts polled by Reuters. Weaker food, drink and clothing prices pulled the figure down, the ONS said. Economists such as Suren Thiru at the ICAEW and Thomas Pugh at RSM say the surprise fall in inflation meant the Bank of England would almost certainly cut interest rates today. The drop in inflation sent the pound down against the dollar, boosting the FTSE, and prompted a fall in borrowing costs.

Blake Stephenson, MP for Mid Bedfordshire, calls for the Financial Conduct Authority (FCA) to conduct an independent investigation into potential market abuse by the Treasury ahead of the Budget. He highlights concerns over selective disclosures and misleading information that may have influenced market expectations. Stephenson argues that the Treasury’s internal leak inquiry is insufficient and that the FCA must uphold its independence. He said: “The British public deserves clarity. Markets deserve certainty.” An investigation is essential to maintain trust in the UK’s economic governance, Stephenson adds.

Permira is pursuing a takeover of Interpath Advisory, the former restructuring arm of KPMG UK, with the assistance of Alan Middleton, ex-CEO of PA Consulting Group. Indicative offers for Interpath have been submitted, with a potential sale price reaching £900m. Other interested firms include Blackstone, Bridgepoint Onex, and PAI Partners. Interpath, which has doubled its earnings since HIG Europe acquired it, is currently advising on the restructuring of TGI Fridays. A deal is expected to be finalised in the first quarter of 2026.

The Treasury is looking for a Director of Financial Services, offering a salary of £100k. The role involves advising the Chancellor and Economic Secretary on financial services policy. But Tim Leunig, chief economist at Nesta, said the salary suggests a lack of interest in experienced candidates. Paul Johnson, former director of the Institute for Fiscal Studies, called the pay a “false economy,” which showed that for this job “knowing about financial services is not an essential criterion.”